Thailand Exports Surge 24% in September Driven by AI Demand

Thailand's customs-cleared exports grew 24% year-on-year in September, surpassing analyst expectations of 17.85%. This growth marks the 27th consecutive month of expansion, primarily driven by increased shipments of food, agricultural commodities, and electronics fueled by global demand for artificial intelligence products.

Shipments to the United States, the country's largest market, increased by 50.1%, while exports to China rose 18.4%. For the period between January and September, overall exports increased 19.6% year-on-year. In response to these figures, the Ministry of Commerce raised its full-year export growth forecast to 19%, up from a previous estimate of 15%.

Despite the export gains, Thailand faced a significant trade deficit of $5.86 billion for September, far exceeding the predicted $1.83 billion deficit. This gap resulted from a record 50.4% surge in imports during the same period.